Share Name Share Symbol Market Type Share ISIN Share Description
Flybe Grp LSE:FLYB London Ordinary Share GB00B4QMVR10 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 0.964 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
0.964 0.99 0.00 0.00 0.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 752.60 -9.40 -4.50 2
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.00 GBX

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Date Time Title Posts
13/8/201916:33FLYBE – turbulence over – but keep your seatbelts on10,869
20/2/201915:08*** FLYBE ***5,687
11/1/201912:22Flybe going bust soon13
24/7/201822:23Flybe (FLYB) One to Watch on Wednesday -
10/5/201618:53another great buy from cockney the clown15

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DateSubject
22/2/2019
18:01
mhin2: Lets see what Kohn uncovers, assuming Hoskings get their way (they must have litigation in mind- good) hxxps://www.flybeplc.com/application/files/presentations/172142%20Project%20Stowe%20(III)%20Circular%20(As%20printed).pdf PART 3 SHAREHOLDER STATEMENT Statement to shareholders of Flybe Group plc (“Flybe”/ the “Company”;) 1 February 2019 Dear Shareholders Requisitioned General Meeting We are writing, on behalf of Hosking Partners, as holders of, in aggregate, 6.34% of the shares in the Company to seek your support to effect a change at board level of the Company and to investigate the actions of the Company and its advisers. This step comes in the context of the woeful performance of the board and its advisers in: • arriving at a position where the directors, in the course of implementing the announced“f ormal sale process”, accept and recommend an offer at 1 pence per share (the Offer)for the Company by the Connect Airways consortium (the Consortium) valuing the Company at £2.2m at a time when its share price was c.16 pence; and • entering into a binding agreement to sell Flybe’s operating business to the Consortium barely two business days after accepting the Offer and, in avoiding shareholder approval for the same, effectively blocking any other bidder from make an alternative offer (as confirmed in the Company’s announcement of 24 January). The appointment of a new director, experienced in the industry and unconnected with the Offer, is essential. Eric Kohn as new independent director, will investigate what has happened and represent the interests of shareholders who have little or no visibility upon how this situation has arisen. 1. Interactions with the Company We were taken by surprise at the announcement of Friday 11 January 2019 that the Consortium’s Offer had been recommended. In conversations with the current chairman and the executive directors, we were informed that the board hoped other bidders would be encouraged to come forward. We were then frankly astonished on Tuesday 15 January 2019, when it was announced that the Company had agreed to sell its main trading company, Flybe Limited, to the Consortium for £2.8 million. In response to our urgent questions raised, we were (eventually) told that the board had no other choice because of the Company’s liquidity position. Yet since 15 January it has become apparent that in fact there were realistic alternatives on the table and/or steps the Company could have taken to improve its position, but the board seemingly did not properly engage or consider such alternatives and instead prioritised the Consortium. 2. Shareholder concerns That the Offer was recommended at such a low price raises serious concerns that: • the Offer seriously undervalued Flybe and did not properly value its slots, servicing business and its aircraft fleet; and/or • the directors were allowing a false market in Flybe’s shares to continue by not announcing to the market such information as to allow investors to make an informed decision about Flybe – if (which we do not accept) 1 pence per share actually reflected its true value. We have lost confidence in the stewardship of the board and believe that they have been either incompetent, badly advised, out-manoeuvred, or all three. In particular, Simon Laffin has not adequately discharged his duties to the Company’s shareholders and his position is no longer tenable. We therefore propose that Eric Kohn should be appointed as new independent director with immediate effect. Eric Kohn is the Founder and Chairman of Barons Financial Services, with over thirty years’ experience in all disciplines of corporate finance, including aerospace. He was a member of the Board of Directors of Avcorp Industries, a publicly listed Canadian aerospace manufacturer, from November 2004 to June 2017. He acted as financial advisor to Intro Aviation in its acquisition of the airlines CityJet and VLM Airlines from Air France-KLM, and was a member of the Board of Directors of VLM Airlines from April 2014 to May 2016. Questions to which the new director will urgently seek answers (based upon such limited information as we have obtained) on behalf of all shareholders include: • what options, such as approaching Flybe’s lessors to request changes to lease conditions in order to improve liquidity, were considered by the board from November onwards? • why did Flybe and its advisers apparently ignore the fact that Virgin and Stobart were sharing information to assemble a bid in breach of their respective NDA obligations as early as late December? • why was this breach waived by the board on 9 January? • why did Flybe and its advisers turn a blind eye to Virgin and Stobart approaching lessors, banks and other Flybe creditors to re-negotiate the arrangements – in doing so sharing highly sensitive information in a manner that seems to have put the group into an incredibly vulnerable position financially? • why were other expressions of interest in the Company seemingly not followed up by the Company with the same energy as was applied to the Consortium? Were other interested parties afforded equal access to the same information and to the Company’s credit card processors as Virgin and Stobart? 3. Voting recommendation The first and second resolutions, if passed, will immediately remove Simon Laffin as chairman and a director of the Company and appoint Eric Kohn as a director. We also consider that Mr Kohn should be empowered by resolution of the shareholders to investigate what has happened from announcement of the sale process to recommendation of the Offer and entry into of the Flybe Limited agreement. As the Company has resisted that resolution, we have sent the Company a requisition for a further meeting dealing only with that resolution, so as not to delay this requisition. We believe it is in the best interests of the Company and its shareholders to pass the proposed resolutions in order to get answers to the questions posed above. We urge you to VOTE IN FAVOUR OF EACH OF THE RESOLUTIONS being raised at the requisitioned General Meeting. Yours faithfully Signed by Nortrust Nominees Limited as registered nominee shareholder on behalf of Hosking Global Fund Plc Hosking Partners Equity Fund LLC Hosking Partners Global Equity Trust
20/2/2019
14:47
mill5ey: Why is Friday relevant anyway? Is that the date that the current deal goes through? I got this from my broker: FLYBE GROUP - Important Information Acquisition by Connect Airways. 1 pence for each Flybe Group Ordinary share held. On 11th January 2019, Flybe Group (Flybe) and Connect Airways (Connect) announced that they had reached an agreement for Connect to acquire all of the issued and to be issued share capital of Flybe, by way of a Court approved Scheme of Arrangement. The Board of Flybe, having been so advised by Evercore, considers the terms of the Acquisition to be fair and reasonable. The Scheme is subject to shareholder approval at a General Meeting and Court approval at a Court Meeting both to be held on 4th March 2019. The Scheme will then be subject to Court sanctioning at a Court Hearing to be held 8th March 2019. Subject to acquiring the necessary approval, the Scheme is expected to become effective on 11th March 2019. Prior to the Scheme becoming effective, an application will be made to the London Stock Exchange (LSE) for the cancellation of listing of the Flybe shares on the Main Market of the LSE. Subsequently, the cancellation of admission to trading is expected to become effective on 11th March 2019 with the last day in dealings expected to be 8th March 2019. The Scheme Proceeds are expected to be credited to your account on or after 25th March 2019. Should you retain your holding of Flybe shares, we will notify you when the cash has been credited to your account. Before making any decision please take into consideration all relevant factors of the event including the current share price and any possible tax implications. If you require any further information in making your decision please contact an appropriate professional advisor. Should you wish to find more information about the Scheme, please visit the Flybe website, www.flybe.com/corporate/
04/2/2019
11:34
loganair: Flybe said its advisers held an initial discussion with Tinkler's advisers in relation to the proposal, which did not include an offer for the whole of the airline or any other acquisition structure, but no formal proposal was made. The group pointed out that it understood the capital injection under the proposal would only be provided by Tinkler – who bought a 12% stake in Flybe soon after the bid was made by his former company - if the sale of the airline's operating businesses to Connect Airways does not complete. The firm concluded, however, that its “board does not consider that the Preliminary Proposal offers the certainty required to secure the future of Flybe.” The Connect Airways offer of just 1p for each Flybe share, made on 15 January, valued the group at £2.2mln, well below the £215mln valuation the airline had when it joined the London Stock Exchange in 2010. That offer price was a 94% discount to the airline’s closing share price on the day before the bid was made. The Connect Airways consortium had also agreed to provide a £20mln bridge loan facility to keep the airline flying until the takeover concluded, but four days later it revised the deal to include the sale of the group’s main operating company, Flybe Ltd, and Flybe.com for £2.8mln in return for a revised £20mln bridge loan - £10mln of which was released immediately.
26/1/2019
18:05
cleverinvestor: Whatsup32 Hosking doesn't look like an attention seeker to me. He felts Shareholders have been unfairly treated and he is in a position to do something about it Sky News article listed his grudge against the BOD (See below) They are real and most already raised and discussed on this thread "Hosking, which owns nearly 19% of Flybe, initially expressed doubts about the takeover in a letter ten days ago which accused directors of breaching their duties to investors and warning that it could seek an injunction to try to block the deal." "Hosking's anger has been sparked by a number of factors, including the huge discount to the airline's prevailing share price at which Connect Airways' bid was pitched." "The fund manager is expected to argue in a statement to fellow shareholders that Flybe's board, led by Mr Laffin, failed to pursue viable alternatives to the consortium's offer." "Flybe has argued that the restructuring of the deal had been made necessary by its urgent need for liquidity, with the consortium extending an emergency £10m bridging loan in recent days to provide it with cash. That claim has been challenged by Hosking because of Flybe's cash balance and its ability to raise funds from the sale of potentially lucrative assets such as its take-off and landing slots at London airports." "Hosking is also furious because Flybe's switch from a premium to a standard listing on the London market - implemented this week - means that investor approval is now only required for the holding company bid." "Hosking has raised concerns about the process through which they formed an alliance, and has highlighted the recent rise in Stobart Group's shares as evidence of a value transfer from Flybe to its prospective acquirers." "Under their plans, Stobart Air will be folded‎ into Connect, with all of Flybe's services rebranded under the Virgin Atlantic name. The chief executive and chief financial officer of Flybe will transfer to the bidding consortium, according to documents published by the company." Investors' anger at the bid process has been exacerbated by the fact that early last year, Stobart made a takeover approach to Flybe understood to have been valued at roughly 40p-a-share. This was rejected by Flybe's board.
23/1/2019
18:31
danny baker: I've given up on rational explanations so what about the following idea to explain the huge turnover in the shares after the announcement of the 1p bid and the recent surge in the Flybe share price. What if someone had shorted Flybe heavily on the basis it was 'risk-free' selling 50 million shares at say 3p hoping to make £1,000,000 profit. They then sold more shares short after the sale of the operating business. However AT and private punters buying the shares has meant that the share price hasn't collapsed and it has become almost mathematically impossible to close the short position without driving up the share price to a crazy level. It sounds implausible but one reckless shorter selling short a high percentage of the company who might also be oblivious to the Rule 8.3 dealing disclosures might explain what has happened. As they say it will all come out in the wash.
23/1/2019
15:38
ajmace: At last I found this from 4 days agoFlybe's biggest shareholder has launched a stunning attack on its directors, accusing them of breaching their duties to investors and threatening a legal challenge to the cut-price takeover of one of Britain's best-known airlines.Sky News has learnt that Hosking Partners, a prominent London-based asset manager which holds a stake of close to 19% in Flybe, has instructed lawyers to explore its options in relation to the company's proposed sale to a consortium? led by Virgin Atlantic Airways .These options could include attempting to obtain an injunction prohibiting the deal from being completed, Hosking Partners is understood to have warned Flybe's bosses this week.The initial 1p-a-share deal, announced eight days ago, came at a huge discount to the airline's prevailing share price and underscored its industry's profound financial challenges.In a letter to the directors of Flybe, details of which have been relayed to Sky News, Hosking Partners is understood to have expressed concern that they had allowed a false market in the company's shares to develop by failing to update the City on its financial position in a timely fashion.?The fund manager, a long-standing shareholder in Flybe, is understood to have copied its ?letter to City watchdogs including the Takeover Panel, which polices mergers and ?acquisitions activity, and the Financial Conduct Authority.Hosking Partners is said to have raised doubts as to whether the £2.2m offer reflected the intrinsic value of Flybe, and alleged that the handling of its proposed sale had blocked a rival offer from emerging at a higher price.Flybe's fate took a further twist this week when it said that its sale to Connect Airways - a consortium comprising Virgin Atlantic, Stobart Group and Cyrus Capital Partners,? an investment fund with links to the other two parties - would be restructured.?Instead of simply comprising a conventional offer for the shares, Flybe's trading assets would be sold next month to Connect Airways for £2.8m, leaving the holding company as? a shell for which ?the consortium would continue to pay a nominal sum.Flybe said this change had been necessitated by its urgent need for liquidity - a claim challenged by Hosking Partners because of the company's cash balance and ability to raise funds from the sale of assets such as its take-off and landing slots at London Gatwick Airport.In a statement to the market on Tuesday, Flybe said it had had no alternative but to agree to the revisions because unspecified conditions attached to a bridging loan had not been met.Hosking and other shareholders are said to be furious about the restructuring of the takeover because Flybe's recent switch from a premium to a standard listing on the London market meant investor approval was now only required for the holding company bid, not the sale of the airline's assets.The fund manager is understood to have told Flybe directors that other parties remained interested in acquiring the airline but would now be unable to make an offer.At the 1p-a-share offer price, Hosking Partners' stake is worth roughly £400,000.If it escalates, the row could pose significant reputational risks to the board of Flybe, which is chaired by Simon Laffin, a City grandee who has served as a director of companies including Mitchells & Butlers (LSE: MAB.L - news) , Northern Rock and Safeway.Investors' anger has been exacerbated by the fact that early last year, Stobart made a takeover approach to Flybe understood to have been valued at roughly 40p-a-share.This was rejected by Flybe's board.In a further development, Sky News revealed last week that Stobart's estranged former chief executive, Andrew Tinkler, had himself swooped to snap up a stake of more than 10%? in Flybe.Until as recently as this month, it appeared that Virgin Atlantic and Stobart were ?likely to table competing offers for the regional airline, before it emerged that they had teamed up as part of the same consortium.Hosking is understood to have raised concerns in its letter about the process through which they were permitted to form an alliance, although one source close to Flybe said that it had not breached any undertakings by doing so.The investor is also said to have highlighted the rise in Stobart Group's share price following confirmation of the 1p-a-share bid as evidence of "value transfer" from Flybe to one of its acquirers, according to a City source.
11/1/2019
09:34
spob: from 2014 .... Flybe raises £150m from equity issue Jane Wild February 20, 2014 FT Flybe has secured £150m in funds as it seeks to boost its balance sheet and cement its turnround. The airline said an issue of shares to the value of nearly twice its market capitalisation would help it build on the restructuring that has taken place. “This is the new Flybe,” said Saad Hammad, chief executive. “I’m delighted at this news and the vote of confidence we have got from investors.” Most of the extra cash will be put towards expanding the business, with £82m going into increasing the size of its network, cutting its fleet costs and pursuing contract flying. Flybe has had success in contract flying under its present arrangement with Finnair. It is in talks with a number of European flag carriers and expects to secure more work within twelve months. Of the remainder of the proceeds from the equity issue, £68m will go into reinforcing its balance sheet to act as a buffer in case of any external shocks, which the airline industry has been particularly liable to in the past. The extra cash would also help Flybe secure better deals with its suppliers and lend it more credibility as it pursues talks on contract flying, Mr Hammad said. Flybe has lifted itself out of the turmoil of the past couple of years, when it suffered heavy losses, and made a pre-tax profit of £13.8m in its half-year results in November. It recently shed 450 staff and closed its smaller bases as part of its retrenchment. The group plans to issue 141.5m shares priced at 110p each in a placing underwritten by Liberum. The fundraising is still subject to approval by shareholders. Flybe’s share price rose 4.2 per cent to 119.9p.
20/12/2018
07:50
daler1966: Today's news bodes well for Flyb share price ?
24/11/2018
14:12
dangersimpson2: Stobart indicated bid price was rejected by the Flybe board so was never a formal bid made public. Share price was about 50p after discussions were announced. I think the indicated price was probably at a small premium to that, say 55p. However the Flybe balance sheet and outlook is worse now so can't see anything near that level being offered today. Good news is that multiple interested parties will help get a better price than if it was just a single bidder who knows they are struggling. Other interesting thing about Virgin is that even if they don't take them over they would consider some kind of strategic tie-up. If, as we assume, Virgin are interested in slots and feeding their long-haul network then they need Flybe as a going concern to be able to keep the slots and do that, so I could see them providing financial backing not just code shares or similar. Sub-10p share price was pricing in the very real chance of bankruptcy, even if people would prefer a takeover in the short-term, a commitment from Virgin to keep them financially solvent in return for network partnering could be worth as much or even more in the long-term.
24/11/2018
13:00
joosepi: *THE SHARE PRICE INCREASED ON STOBARTS LAUNCH OF TAKEOVER IN MARCH 18 BY 36% to 47p VALUING FLYBE AT £102million. FLYBE SHAREPRICE CONSTANT FROM MAY 16 to NOVEMBER 18 @ 42p to 41P CLOSE FRIDAY @ 16.55P VALUING FLYBE AT £35.85 ASSETS OF £189.50 MILLION. NET DEBT £432 Million. SHARES IN ISSUE 216.65 MILLION GROUP REVENUE RELEASED 14 NOV 19 £418.5 MILLION NET PROFIT £8.4 MILLION 7.9% INCREASE IN PASSENGER REVENUE PER SEAT IN YEAR 17/18 FLYBE HAVE IMPLEMENTED A 6 MONTH PLAN AND ANTICIPATE IMPROVEMENTS TO COMMENCE INTO H2 2018/19. TAKEN FROM DAILY MAIL 22nd FEB 2018 Flybe shares soar 36% following announcement Southend Airport owner Stobart Group is set to launch a takeover bid By Hannah Uttley For The Daily Mail Published: 21:50, 22 February 2018 | Updated: 21:50, 22 February 2018 The owners of London Southend Airport looked set last night to launch a takeover bid for struggling airline Flybe. Stobart Group, formed out of the Eddie Stobart haulage firm, is in discussions to buy Flybe. The announcement saw shares in the airline soar by 36 per cent. At the closing share price of 47p yesterday, Flybe was valued at around £102million.
Flybe share price data is direct from the London Stock Exchange
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